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BSBMGT617

Develop and implement a


business plan
Learner Workbook

BSB61015 / Module D / Develop and Implement a Business Plan Learner Workbook / Version
1.1 / 18 July 2018
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Table of Contents

Table of Contents ..................................................................................................................... 1


Instructions to Learner............................................................................................................ 2
Assessment instructions ...................................................................................................... 2
Assessment requirements ................................................................................................... 5
Candidate Details ..................................................................................................................... 6
Assessment – BSBMGT617: Develop and implement a business plan ............................. 6
Observation/Demonstration .................................................................................................... 8
Third Party Guide.................................................................................................................... 9
Third party details (required information from the learner) ............................................... 9
Activities.................................................................................................................................. 10
Activity 1A ....................................................................................................................... 10
Activity 1B ....................................................................................................................... 11
Activity 1C ....................................................................................................................... 12
Activity 1D ....................................................................................................................... 13
Activity 1E ........................................................................................................................ 15
Activity 1F ........................................................................................................................ 16
Activity 1G ....................................................................................................................... 17
Activity 2A ....................................................................................................................... 21
Activity 2B ....................................................................................................................... 22
Activity 2C ....................................................................................................................... 24
Activity 2D ....................................................................................................................... 26
Activity 3A ....................................................................................................................... 28
Activity 3B ....................................................................................................................... 30
Activity 3C ....................................................................................................................... 31
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Instructions to Learner

Assessment instructions
Overview
Prior to commencing the assessments, your trainer/assessor will explain each assessment task
and the terms and conditions relating to the submission of your assessment task. Please
consult with your trainer/assessor if you are unsure of any questions. It is important that you
understand and adhere to the terms and conditions, and address fully each assessment task. If
any assessment task is not fully addressed, then your assessment task will be returned to you
for resubmission. Your trainer/assessor will remain available to support you throughout the
assessment process.

Written work
Assessment tasks are used to measure your understanding and underpinning skills and
knowledge of the overall unit of competency. When undertaking any written assessment
tasks, please ensure that you address the following criteria:

 Address each question including any sub-points

 Demonstrate that you have researched the topic thoroughly

 Cover the topic in a logical, structured manner

 Your assessment tasks are well presented, well referenced and word processed

 Your assessment tasks include your full legal name on each and every page.

Active participation
It is a condition of enrolment that you actively participate in your studies. Active
participation is completing all the assessment tasks on time.

Plagiarism
Plagiarism is taking and using someone else's thoughts, writings or inventions and
representing them as your own. Plagiarism is a serious act and may result in a learner’s
exclusion from a course. When you have any doubts about including the work of other
authors in your assessment, please consult your trainer/assessor. The following list outlines
some of the activities for which a learner can be accused of plagiarism:

 Presenting any work by another individual as one's own unintentionally

 Handing in assessments markedly similar to or copied from another learner

 Presenting the work of another individual or group as their own work

 Handing in assessments without the adequate acknowledgement of sources used,


including assessments taken totally or in part from the internet.
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If it is identified that you have plagiarised within your assessment, then a meeting will be
organised to discuss this with you, and further action may be taken accordingly.

Collusion
Collusion is the presentation by a learner of an assignment as their own that is, in fact, the
result in whole or in part of unauthorised collaboration with another person or persons.
Collusion involves the cooperation of two or more learners in plagiarism or other forms of
academic misconduct and, as such, both parties are subject to disciplinary action. Collusion
or copying from other learners is not permitted and will result in a “0” grade and NYC.

Assessments must be typed using document software such as (or similar to) MS Office.
Handwritten assessments will not be accepted (unless, prior written confirmation is provided
by the trainer/assessor to confirm).

Competency outcome
There are two outcomes of assessments: S = Satisfactory and NS = Not Satisfactory (requires
more training and experience).

Once the learner has satisfactorily completed all the tasks for this module the learner will be
awarded “Competent” (C) or “Not yet Competent” (NYC) for the relevant unit of
competency.

If you are deemed “Not Yet Competent” you will be provided with feedback from your
assessor and will be given another chance to resubmit your assessment task(s). If you are still
deemed as “Not Yet Competent” you will be required to re-enrol in the unit of competency.

Additional evidence
If we, at our sole discretion, determine that we require additional or alternative
information/evidence in order to determine competency, you must provide us with such
information/evidence, subject to privacy and confidentiality issues. We retain this right at any
time, including after submission of your assessments.

Confidentiality
We will treat anything, including information about your job, workplace, employer, with
strict confidence, in accordance with the law. However, you are responsible for ensuring that
you do not provide us with anything regarding any third party including your employer,
colleagues and others, that they do not consent to the disclosure of. While we may ask you to
provide information or details about aspects of your employer and workplace, you are
responsible for obtaining necessary consents and ensuring that privacy rights and
confidentiality obligations are not breached by you in supplying us with such information.
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Assessment appeals process


If you feel that you have been unfairly treated during your assessment, and you are not happy
with your assessment and/or the outcome as a result of that treatment, you have the right to
lodge an appeal. You must first discuss the issue with your trainer/assessor. If you would like
to proceed further with the request after discussions with your trainer/assessor, you need to
lodge your appeal to the course coordinator, in writing, outlining the reason(s) for the appeal.

Recognised prior learning


Candidates will be able to have their previous experience or expertise recognised on request.

Special needs
Candidates with special needs should notify their trainer/assessor to request any required
adjustments as soon as possible. This will enable the trainer/assessor to address the identified
needs immediately.
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Assessment requirements
Assessment can either be:
 Direct observation

 Product-based methods e.g. reports, role plays, work samples

 Portfolios – annotated and validated

 Questioning

 Third party evidence.

If submitting third party evidence, the Third-Party Observation/Demonstration document


must be completed by the agreed third party.

Third parties can be:


 Supervisors

 Trainers

 Team members

 Clients

 Consumers.

The third-party observation must be submitted to your trainer/assessor, as directed.

The third-party observation is to be used by the assessor to assist them in determining


competency.

The assessment activities in this workbook assess aspects of all the elements, performance
criteria, skills and knowledge and performance requirements of the unit of competency.

To demonstrate competence in this unit you must undertake all activities in this workbook
and have them deemed satisfactory by the assessor. If you do not answer some questions or
perform certain tasks, and therefore you are deemed to be Not Yet Competent, your
trainer/assessor may ask you supplementary questions to determine your competence. Once
you have demonstrated the required level of performance, you will be deemed competent in
this unit.

Should you still be deemed Not Yet Competent, you will have the opportunity to resubmit
your assessments or appeal the result.

As part of the assessment process, all learners must abide by any relevant assessment policies
as provided during induction.
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If you feel you are not yet ready to be assessed or that this assessment is unfair, please
contact your assessor to discuss your options. You have the right to formally appeal any
outcome and, if you wish to do so, discuss this with your trainer/assessor.

Candidate Details

Assessment – BSBMGT617: Develop and implement a business plan


Please complete the following activities and hand in to your trainer/assessor for marking.
This forms part of your assessment for BSBMGT617: Develop and implement a business
plan.

Name: _____________________________________________________________

Address: _____________________________________________________________

_____________________________________________________________

Email: _____________________________________________________________

Employer: _____________________________________________________________

Declaration

I declare that no part of this assessment has been copied from another person’s work with the
exception of where I have listed or referenced documents or work and that no part of this
assessment has been written for me by another person. I also understand the assessment
instructions and requirements and consent to being assessed.

Signed:
____________________________________________________________

Date: ____________________________________________________________

If activities have been completed as part of a small group or in pairs, details of the
learners involved should be provided below:

This activity workbook has been completed by the following persons and we acknowledge
that it was a fair team effort where everyone contributed equally to the work completed. We
declare that no part of this assessment has been copied from another person’s work with the
exception of where we have listed or referenced documents or work and that no part of this
assessment has been written for us by another person.

Learner 1: ____________________________________________________________

Signed:
____________________________________________________________

Learner 2: ____________________________________________________________
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Signed:
____________________________________________________________

Learner 3: ____________________________________________________________

Signed:
____________________________________________________________
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Observation/Demonstration

Throughout this unit, you will be expected to show your competency of the elements through
observations or demonstrations. Your trainer/assessor will have a list of demonstrations you
must complete or tasks to be observed. The observations and demonstrations will be
completed as well as the activities found in this workbook.

An explanation of observations and demonstrations:

Observation is on-the-job

The observation will usually require:

 Performing a work-based skill or task

 Interaction with colleagues and/or customers.

Demonstration is off-the-job

A demonstration will require:

 Performing a skill or task that is asked of you

 Undertaking a simulation exercise.

Your trainer/assessor will inform you of which one of the above they would like you to do.
The observation/demonstration will cover one of the unit’s elements.

The observation/demonstration will take place either in the workplace or the training
environment, depending on the task to be undertaken and whether it is an observation or
demonstration. Your trainer/assessor will ensure you are provided with the correct equipment
and/or materials to complete the task. They will also inform you of how long you have to
complete the task.

You should be able to demonstrate the skills, knowledge and performance criteria required
for competency in this unit, as seen in the Learner Guide.
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Third Party Guide

You should supply details of the third party to the assessor before you commence the
activities (see below), unless the assessor has already selected a third party themselves. The
assessor can then contact the third party in instances where they require more evidence to
determine competency, or they cannot observe certain tasks themselves.

The reasons to use a third party may include:


 Assessment is required in the workplace
 Where there are health and safety issues related to observation
 Patient confidentiality and privacy issues are involved.

If you are not employed, or able to complete demonstrative tasks in the workplace, you will
need to inform the assessor. They will be able to provide you with a simulated environment
in which to complete these tasks.

We would prefer that, wherever possible, these be “live” issues for your industry and require
application of the principles that you are learning as part of your training. Where this is not
possible, you and your third party should simulate the activity tasks and demonstrations that
you believe would be likely to arise in your organisation or job role.

Third party evidence can also be used to provide “everyday evidence” of tasks included in
your work role that relate to the unit of competency but are not a part of the formal
assessment process.

The third party is not to be used as a co-assessor – the assessor must make the final decision
on competency themselves.

Documents relevant to collection of third party evidence are included in the Third-Party
section in the Observations/Demonstrations document.

Third party details (required information from the learner)


A third party may be required for observations or demonstrations; please provide details
below of your nominated third party and obtain their signature to confirm their agreement to
participate. This information will be required by your trainer/assessor in advance of arranging
any future observations or demonstrations.

Third party name:


______________________________________________________________

Position of third party:


______________________________________________________________

Telephone number:
______________________________________________________________
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Email address:
______________________________________________________________

Declaration for nominated third party


I declare my intention to act as third party for (learner’s name here)
__________________________

Third party signature: _____________________________________ Date:


___________________

Activities

Complete the following activities individually or in a group (as applicable to the specific
activity and the assessment environment).

Where applicable, a signed observation by either an approved third party or the


assessor will need to be included in these activities as proof of completion.

Activity 1A
Estimated 20 Minutes
Time
Objective To provide you with an opportunity to review and evaluate pre-
existing strategic, business and operational plan, if available.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

Review and evaluate your organisations pre-existing strategic,


business and operational plans, if available. Does your organisation
have a pre-existing strategic, business and operational plan? Briefly
describe it.
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Activity 1B
Estimated 30 Minutes
Time
Objective To provide you with an opportunity to analyse and interpret business
vision, mission, values and objectives.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

1. Attempt to locate your organisations vision statement. Describe it


and any ways in which you think it could be altered.

Equality for everyone

2. Attempt to locate your organisations mission statement. Describe


it and any ways in which you think it could be altered.

Spreading Ideas

3. What are the current objectives of your organisation? Can you


think of any which could be implemented? In pairs, share your
ideas on objectives that could be implemented.

The current objective of the organization is to reach the market which are
unreachable and optimize its sales and capture new market share
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Activity 1C
Estimated 30 Minutes
Time
Objective To provide you with an opportunity to consult with key stakeholders;
and review market requirements for the product or service, profile
customer needs and research pricing options.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

1. Consider who your key stakeholders are. Plan a consultation


meeting where stakeholders will provide you with advice on how
to shape the future of the business. What are their thoughts on
organisational vision, mission, values and objectives?

The key stakeholder of the business are government, vendor, and local
community. The management of an organization can ensure the
organizational development by ensuring that all the interest of these
parties is met.
2. What is an external environmental factor? List two external
factors and explain how they could impact on your business plan?

The external factor which impact the business operations are


governmental policies and pricing policies of vendor
3. What research should be conducted regarding pricing options
before writing your business plan?

Executive summary - a snapshot of your business.


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Company description - describes what you do.


Market analysis - research on your industry, market, and competitors.
Organization and management - your business and management
structure.
Service or product - the products or services you’re offering.
Marketing and sales - how you’ll market your business and your sales
strategy.
Funding request - how much money you’ll need for next 3 to 5 years.
Financial projections - supply information like balance sheets.
Appendix- an optional section that includes résumés and permits.

Activity 1D
Estimated 30 Minutes
Time
Objective To provide you with an opportunity to develop performance
objectives and measures through consultation with key stakeholders.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):
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Based on the consultation plan developed in Activity 1C, in groups,


perform the roles of manager and employees. Discuss the changes
required in employee performance to meet the needs of the strategic
plan. Provide examples of performance objectives which could be
issued to your employees.

Senior management are very clear about the organizational change effort
and how it relates to the market and business strategy of the organization.
However, this is usually not the case for middle management. They may
not see relevance and meaning for the organizational change effort. In
general, relevance occurs when employees see how something fits into
the larger scheme of things. When employees understand how the
organizational change contributes to both theirs and the business
success—how it responds to organization’s vision, strategic imperatives
and customers; they are more likely to perceive the change as relevant.

Traditionally, strategic understanding has been the foundation of the


executive role and the role of staff was simply to execute the
organizational change with blind faith. Today, most organizations are in a
constant state of change in an attempt to keep pace with marketplace
demands. Therefore, for staff to contribute fully, they too, must
understand the relevance and see how it all fits together.

Executives and change leaders must come together to develop the strategy
and direction for the organization. They must seek meaning in the
organizational change; think strategically (not tactically) and commit to
contributing to its success. management know change leaders (HR
Directors and management) who were replaced because they were unable
to find relevance and meaning for the organizational change effort in their
organizations
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Activity 1E
Estimated 20 Minutes
Time
Objective To provide you with an opportunity to identify financial, human and
physical resource requirements for the business.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

1. Identify three forms of existing finance funds in your


organisation.
Equity, bank loan, IPO

2. Provide two examples of factors that a human resources audit


should assess.
Total HR requirement to support the operations, number of
employees working in the organization and number of employees to
whom the organization is paying to.

3. Provide three examples of production facilities which should be


considered when implementing a business plan.
Manufacturing facility
Processing facility
Designing facility
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Activity 1F
Estimated 25 Minutes
Time
Objective To provide you with an opportunity to consider any permits or
licenses that may be required for new activity.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

1. If your company were to alter their address because of a change


of location in the business plan, what steps would you need to take
when updating ASIC?

Updating their business cards, updating address in company


registrar, notifying their vendors, clients, employees etc.
2. Provide three examples of factors you should cover in your code
of practice. Briefly describe your company’s approach to the
area.
1. dressing code, code of behaviour, code of working, code of ethics. The
company will ensure that all the code has been met and each of the
employees comply with the code of organization.
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Activity 1G
Estimated 20 Minutes
Time
Objective To provide you with an opportunity to write business plan.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

1. What are the components of a typical business plan? Briefly


explain what should be included in each section.
1. Executive Summary

The executive summary is basically the elevator pitch for your business.
It distils all the important information about your business plan into a
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relatively short space. It’s a high-level look at everything and should


include information that summarizes the other sections of your plan.

One of the best ways to approach writing the executive summary is to


finish it last so you can include the important ideas from other sections.

2. Business Description

This is your chance to describe your company and what it does. Include a
look at when the business was formed, and your mission statement. These
are the things that tell your story and allow others to connect to you. It
can also serve as your own reminder of why you got started in the first
place. Turn to this section for motivation if you find yourself losing
steam.

3. Market Analysis

This is your chance to look at your competition and the state of the
market as a whole. Your market analysis is an exercise in seeing where
you fit in the market — and how you are superior to the competition.

As you create your market analysis, you need to make sure to include
information on your core target market, profiles of your ideal customers
and other market research. You can also include testimonials if you have
them.

4. Organization and Management

Use this section of your business plan to show off your team superstars.
In fact, there are plenty of indications that your management team matters
more than your product idea or pitch.

Venture capitalists want to know you have a competent team that has the
grit to stick it out. You are more likely to be successful and pivot if
needed when you have the right management and organization for your
company.

5. Sales Strategies

How will you raise money with your business and make profits a reality?
You answer this question with your sales strategy. This section is all
about explaining your price strategy and describing the relationship
between your price point and everything else at the company.

You should also detail the promotional strategies you’re using now, along
with strategies you hope to implement later. This includes your social
media efforts and how you use press releases and other appearances to
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help raise your brand awareness and encourage people to buy or sign up
for your products or services.

Your sales strategy section should include information on your web


development efforts and your search engine optimization plan. You want
to show that you’ve thought about this, and you’re ready to implement a
plan to ramp up sales.

6. Funding Requirements

Here’s where you ask for the amount of money you need. Make sure you
are being as realistic as possible. You can create a range of numbers if
you don’t want to try to pinpoint an exact number. Include information
for a best-case scenario and a worst-case scenario. You should also put
together a timeline so your potential funders have an idea of what to
expect.

7. Financial Projections

Finally, the last section of your business plan should include financial
projections. Make sure you summarize any successes up to this point.
This is especially important if you hope to secure funds for expansion of
your existing business.

2. Provide two examples of benefits that can arise from writing a


business plan and researching your industry.

1. Executive Summary

Determines the objective and summaries the overall main points

2. Business Description

Determine the detail of business and its operations

3. Market Analysis

Analyse the market situation and current opportunities

4. Organization and Management

Shows the overall structure of organization and its management

5. Sales Strategies
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Determine the sales strategies of the business and policies of management


in order to meet its sales

6. Funding Requirements

Evaluates the requirement of funding and the mode of funding

7. Financial Projections

Analyse the financial projection and the profitability of the company


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Activity 2A
Estimated 30 Minutes
Time
Objective To provide you with an opportunity to communicate business plan to
all relevant parties and ensure understanding of performance
requirements and timeframes.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

1. Why should your marketing team conduct a media outlet analysis


before sending out your business plan?

In order to implement and execute the successful marketing campaign


2. What steps should you work through to communicate your
business plan?

Informing the senior management of an organization related to the


development of the business plan, conducting the meeting within the
organization
3. Explain two advantages of segmenting your stakeholders and
employees?

It helps in determine the importance of the stakeholders and employees


according to their category
It helps the organization in meeting the expectation of the employees and
stakeholders by prioritizing them.
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Activity 2B
Estimated 30 Minutes
Time
Objective To provide you with an opportunity to ensure skilled labour is
available to implement plan; and test performance measurement
systems and refine, if necessary.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

1. Develop a staffing plan to assess your current employees. Locate


any statistics you have regarding their productivity.

Recruitment can be expensive and time-consuming. You should assess


organization current staffing situation before you begin recruiting, to
ensure you find the right solution. This will give you a clear idea of what
type of person you are looking for and what you hope to achieve with
them.

Consider organization requirements

Once you have decided to employ new staff, think about how long you
will need them for and at what capacity. You might only need them for a
short time to cover a busy period, or you might need them for a longer
time, but only part-time or casually.

Plan ahead

Plan organization staffing needs as far ahead as possible. Consider


whether you want to employ someone immediately to help with a busy
workload or train an existing employee to do a new role.

Revisit organization business plan

Review organization business plan and objectives when you are


recruiting. Organization plan should include details on organization
staffing requirements, including the skills and knowledge you need to
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operate successfully. If you discover that you currently have gaps, assess
how likely they are to impact on organization business in the future and
work out how you can address them.

Review organization current staff

Review organization current staff before you recruit new people. Existing
staff may have the skills or knowledge you need, or may be able to
acquire them with some additional training. Providing staff with training
can sometimes be more efficient than recruiting new staff, and it can save
you time and money. It can also help you to retain good staff.

2. List three examples of benefits of performance measurement.


1. It helps management to promote right staff
2. It helps management to evaluate the overall performance of the
employee
3. It helps management to overcome any barrier that might be faced
by the employee
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Activity 2C
Estimated 20 Minutes
Time
Objective To provide you with an opportunity to ensure timely reports on all
key aspects of the business are available, user-friendly and balanced
in terms of financial and non-financial performance.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

1. In groups, discuss the aspects you should report on in a business


report.

Title Page
Begin most business reports with a title page that contains the full title of
the report, the name of the author or compiler, the name of the intended
audience and the date of submission. A title page may also include the
name of the organization for which the report has been prepared.

Abstract or Executive Summary


Highlight the main purpose and the primary points of a business report
with a 200- to 250-word "abstract" or a one-page or shorter “executive
summary.” Abstracts and executive summaries usually follow the title
page on a separate page and highlight the purpose, methods, scope,
findings, conclusions and recommendations of the report.

Table of Contents
List the contents of a business report on a separate “Table of Contents”
page. The table of contents page may precede or follow the abstract and
should identify each primary section of the report by page number and in
order of appearance.

List of Figures, Tables, Abbreviations or Symbols


If you include more than five figures or tables, list these items by page
number on a “List of Figures” or “List of Tables” page following the table
of contents. If the report uses several abbreviations or symbols, identify
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these as well on a separate “List of Abbreviations” or “List of Symbols”


page.

Introduction
Begin the body of your report with an introduction that presents the
purpose and scope of the report. Any background information or research
necessary for understanding the rest of the report should be presented
here.

Body
Identify primary sections of the body of the report with appropriate
headings. These sections will cover the central content of the report,
whether you are reporting on a current problem, a potential solution or
some other subject of interest to your audience. Compliment this material,
where appropriate, with illustrations and tables as well as with research
and sources.

Conclusions and Recommendations


At the end of the body of the report, present your concluding ideas and
arguments in the “Conclusions” section. If appropriate, state your
“Recommendations” as well, indicating the course of action you suggest
in light of your arguments in the body of the report.

Endnotes or Explanatory Notes


If you do not include footnotes in the body of the report, you may find it
helpful to include “Endnotes” or “Explanatory Notes” after your
conclusions section. These notes provide additional helpful information
for your readers that may be distracting if it were included in the body of
the report.

Bibliography, References or Works Cited


List the references that you use either to prepare your report or to support
the argument and ideas in your report on a separate “Bibliography,”
References” or “Works Cited” page after the endnotes section. Include
any research sources, such as websites, books or interviews, that you used
during your research or referenced directly in the text of your report.

Appendix and Glossary


If helpful for your readers, you may also want to include an “Appendix”
or a “Glossary” at the end of your report. An “Appendix” provides
information that is too detailed or involved to be included in the body of
the report, but that may be helpful as additional reading. A “Glossary”
alphabetically lists specialized terminology with definitions.
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2. Why might suppliers take an interest in your business report?

Supplier might take interest in the business report of the company in order
to evaluate the going concern of the organization and the future prospect
of the organization.

Activity 2D
Estimated 15 Minutes
Time
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Objective To provide you with an opportunity to report system failures,


product failures and variances to the business plan as they occur.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

1. What procedures currently exist in your organisation for


reporting system or product failures? How could you apply a
FRACAS to your organisation?

While the specifics of how each FRACAS process is implemented will


vary, a FRACAS usually includes the following steps:

1. Record the Failures or Incidents: Using a database management


system and an established procedure, critical data associated with
each failure or incident is recorded, and the process is initiated
2. Analyse the Reported Failures or Incidents: Using the same
database management system into which the failure or incident
data was entered, established procedures are used to determine
and record the root cause of the failure or incident
3. Identify Necessary Corrective Action: Using the same database
management system to track its development, implementation, and
result, a corrective action plan must be developed and
implemented to reduce or eliminate the recurrence of the failure or
incident
4. Review and Verify the Corrective Action: The effectiveness of the
corrective action must be reviewed and recorded, using the same
database management system, and the incident closed out per
established procedures

2. Provide three examples of targets which could be set in a business


plan that you could monitor for variances.

1. Profitability
2. Cost control
3. Forecast of production vs actual production
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Activity 3A
Estimated 30 Minutes
Time
Objective To provide you with an opportunity to analyse performance reports
against planned objectives; and review performance indicators and
refine if necessary.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

1. What actions could you take to analyse the performance of an


employee whose job role has changed within the period of their
set performance objectives?

The action will involve the adaption of new policies of work by the
employee and how well they are performing their new job.

2. What performance indicators are used by your business to


measure performance? In pairs, discuss how you feel these could
be refined to meet the needs of the new business plan.

1. Profit: This goes without saying, but it is still important to note,


as this is one of the most important performance indicators out
there. Don’t forget to analyse both gross and net profit margin to
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better understand how successful your organization is at


generating a high return.
2. Cost: Measure cost effectiveness and find the best ways to reduce
and manage your costs.
3. LOB Revenue Vs. Target: This is a comparison between your
actual revenue and your projected revenue. Charting and analysing
the discrepancies between these two numbers will help you
identify how your department is performing.
4. Cost of Goods Sold: By tallying all production costs for the
product your company is selling, you can get a better idea of both
what your product mark-up should look like and your actual profit
margin. This information is key in determining how to outsell
your competition.
5. Day Sales Outstanding (DSO): Take your accounts receivable
and divide them by the number of total credit sales. Take that
number and multiply it by the number of days in the time frame
you are examining. Congratulations—you’ve just come up with
your DSO number! The lower the number, the better your
organization is doing at collecting accounts receivable. Run this
formula every month, quarter, or year to see how you are
improving.
6. Sales by Region: Through analysing which regions are meeting
sales objectives, you can provide better feedback for
underperforming regions.
7. LOB Expenses Vs. Budget: Compare your actual overhead with
your forecasted budget. Understanding where you deviated from
your plan can help you create a more effective departmental
budget in the future.
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Activity 3B
Estimated 25 Minutes
Time
Objective To provide you with an opportunity to ensure groups and individuals
contributing to under-performance are coached, and provide training
where appropriate.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

1. What procedures are in place in your organisation to reduce


under-performance? Are there any methods you think could be
implemented to support those in the new business plan?

procedures are in place in your organisation to reduce under-performance


by providing training and development opportunities, seminars and
workshop

2. Describe two benefits of one-on-one learning as a response to


under-performance.

two benefits of one-on-one learning as a response to under-performance is


that it is flexible and it help employees to increase their overall
performance.
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Activity 3C
Estimated 20 Minutes
Time
Objective To provide you with an opportunity to review system processes and
work methods regularly as part of continuous improvement.
Activity Complete the following individually or in a group (as applicable to
the specific activity and the assessment environment):

Does your business currently have a procedure for the continuous


improvement of system processes and work methods? Describe what
they are and some improvements that have been made. If not,
describe how CI could implemented in your workforce.

1. Don’t be Afraid to Delegate


While this tip might seem the most obvious, it is often the most difficult
to put into practice. We get it–your company is your baby, so you want to
have a direct hand in everything that goes on with it. While there is
nothing wrong with prioritizing quality (it is what makes a business
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successful, after all), checking over every small detail yourself rather than
delegating can waste everyone’s valuable time.

Instead, give responsibilities to qualified employees, and trust that they


will perform the tasks well. This gives your employees the opportunity to
gain skills and leadership experience that will ultimately benefit your
company. You hired them for a reason, now give them a chance to prove
you right.

2. Match Tasks to Skills


Knowing your employees’ skills and behavioral styles is essential for
maximizing efficiency. For example, an extroverted, creative, out-of-the-
box thinker is probably a great person to pitch ideas to clients. However,
they might struggle if they are given a more rule-intensive, detail-oriented
task.

Asking your employees to be great at everything just isn’t efficient–


instead, before giving an employee an assignment, ask yourself: is this the
person best suited to perform this task? If not, find someone else whose
skills and styles match your needs.

3. Communicate Effectively
Every manager knows that communication is the key to a productive
workforce. Technology has allowed us to contact each other with the
mere click of a button (or should we say, tap of a touch screen)–this
naturally means that current communication methods are as efficient as
possible, right? Not necessarily. A McKinsey study found that emails can
take up nearly 28% of an employee’s time. In fact, email was revealed to
be the second most time-consuming activity for workers (after their job-
specific tasks).

Instead of relying solely on email, try social networking tools (such


as Slack) designed for even quicker team communication. You can also
encourage your employees to occasionally adopt a more antiquated form
of contact…voice-to-voice communication. Having a quick meeting or
phone call can settle a matter that might have taken hours of back-and-
forth emails.
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4. Keep Goals Clear & Focused


You can’t expect employees to be efficient if they don’t have a focused
goal to aim for. If a goal is not clearly defined and actually achievable,
employees will be less productive. So, try to make sure employees’
assignments are as clear and narrow as possible. Let them know exactly
what you expect of them, and tell them specifically what impact this
assignment will have.

One way to do this is to make sure your goals are “SMART” – specific,
measurable, attainable, realistic, and timely. Before assigning an
employee a task, ask yourself if it fits each of these requirements. If not,
ask yourself how the task can be tweaked to help your workers stay
focused and efficient.

5. Incentivize Employees
One of the best ways to encourage employees to be more efficient is to
actually give them a reason to do so. Recognizing your workers for a job
well done will make them feel appreciated and encourage them to
continue increasing their productivity.
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